SNDK is still in a clear downtrend, and the current structure may be completing a five-wave decline.

But a completed fifth wave does not automatically mean the bottom is in.

The more interesting question is whether SNDK will behave like Bitcoin after a major selloff: sharp decline, temporary relief rally, then a retest before a durable reversal.

The 1,005 area is the first level I am watching. If price stabilizes there, forms a higher low, and reclaims 1,303, the market may begin building a short-term recovery structure.

If 1,005 fails decisively, the downtrend is not finished and further downside remains possible.

For now, I would not try to catch the bottom simply because the chart looks “oversold.”

A real reversal requires structure—not hope.